President Gloria Macapagal-Arroyo witnessed the signing of the Jatropha Biofuel joint venture agreement between the European Firm Global Tree Trust and the Herminio Teves Company Inc., at the Negros Oriental Convention Center, in Dumaguete City yesterday.

The joint venture is investing millions of pesos in developing a large-scale jatropha plantation and vermin (earthworm) culture in Tanjay Valley, a former hotbed of insurgency in the southern part of Negros Oriental.

The jatropha plantation which is located within the boundaries of Valencia, Sta. Catalina, Siaton and Dauin towns, covers an area of more than 24,000 hectares.

Organizers showed video presentations on various projects, including jatropha and vermin culture, and multi-cropping for jatropha and cassava initiated by private groups.

A Korean investment firm, Biogreen, had invested in the plantation site. A cassava food processing and jatropha plant facilities have been constructed at the site.

Negros Oriental former Rep. Herminio Teves also gave the President a copy of the Joint Venture Agreement on a massive propagation of jatropha plant as an alternative source of energy before the thanksgiving luncheon party hosted by the provincial government of Negros Oriental to celebrate his the 88th birthday.

Studies conducted by the Alternative Fuels Corporation show that 10 kilos of oil extract from ripe jatropha seeds can produce one liter of clean and environment-friendly diesel.

Before the luncheon party, Teves also presented to the President a hybrid prototype pick-up car fueled by jatropha diesel fuel with pollution-free exhaust fumes.*RG

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